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An integrated circuit is a semiconductor wafer on which thousands or millions of tiny resistors, capacitors, and transistors are fabricated. Sometimes called a chip or microchip. The invention of the integrated circuit made technologies of the Information Age feasible. ICs are now used extensively in all walks of life, from cars to toasters to amusement park rides. Integrated circuits (ICs) are self-contained circuits with many separate components such as transistors, diodes, resistors and capacitors etched into a tiny silicon chip.